"And not stick the consumer with higher costs to make up their losses."Yes. Or stick the taxpayer with the costs of a government bail-out. How nice it must have been for all those bankers who made wild, unsecured loans to unqualified South American borrower countries -- knowing that their reckless gamble was risk-free.
Paul Greenberg: Fidel and friends**** The problem is that, like any other economy that's been run into the ground by some Communist caudillo, F. Castro and brutal company are a little short of cash just now and always. Cuba is already some $11 billion in debt, it defaulted on its international loans years ago, and so it can't get any more money from the World Bank. Or any other lending agency that has this thing about being repaid. In short, Fidel's is a typical Communist economy, that is, bankrupt -- and not just morally. That's where American banks and credit and you, the American taxpayer, come in. Because all the loans and grants that Cuba's sordid little dictatorship would need to buy our rice and shore up its own power would have to be backed some way by the U.S. government. That's the dirty little secret none of those pushing for an end to this embargo emphasize. They see trade with Cuba as still another farm subsidy.****